Common use of Engineering Milestone Schedule Clause in Contracts

Engineering Milestone Schedule. The initial engineering milestone schedule is set forth in the Statement of Work and identified as the “Engineering Milestone Schedule”. Each of the Parties will use best commercial efforts to produce the deliverables that it is required to provide under the Statement of Work in accordance with the Engineering Milestone Schedule and agreed upon specifications and criteria contained in the Statement of Work. The Parties each acknowledge that time is of the essence and strict adherence to the Engineering Milestone Schedule is necessary to meet the production start date identified in the Engineering Milestone Schedule (“Production Start Date”), which is the date of commencement of full-scale commercial production and manufacturing of the Licensed Products for the United States Fall/Holiday retail shipping season for 2005.